New York Stock Exchange parent company Intercontinental Exchange has finalized a $1.6 billion investment in prediction market platform Polymarket, fulfilling a commitment made last October. The funding arrives as rival Kalshi recently raised $1 billion at a $22 billion valuation, far outpacing Polymarket’s $9 billion valuation. The sector faces increasing regulatory pressure, with lawmakers moving to ban insider trading on such platforms following controversial bets on geopolitical events.
New York Stock Exchange parent company Intercontinental Exchange (ICE) has completed its investment into prominent prediction market platform Polymarket, with the final total landing at $1.6 billion. The firm also intends to purchase up to $40 million worth of Polymarket securities from existing holders.
This fulfills a commitment of up to $2 billion that ICE made in October 2025, which initially valued Polymarket at $9 billion. The platform has been locked in heated competition with rival Kalshi, which just raised $1 billion earlier this month at a $22 billion valuation.
Kalshi’s rapid fundraising tear began after winning a CFTC court battle in May 2025. That cleared the way for its election contracts and helped scale its valuation from $2 billion in June 2025 to its current $22 billion in under a year.
Polymarket recently hosted a Washington D.C. pop-up experience called the Situation Room, which received mixed reviews from journalists in attendance. Tech outlet Wired called the opening night “a disaster,” due to technical difficulties that left screens off.
The investment comes as prediction markets face growing regulatory scrutiny. Massachusetts Rep. Seth Moulton banned his staff from trading on platforms like Polymarket and Kalshi this week, citing concerns about insider trading.
Bipartisan lawmakers have also introduced the PREDICT Act to extend similar restrictions to members of Congress, senior officials, and their families. Senators have separately proposed bans on sports contracts and war-related markets following controversy over profitable bets tied to U.S. strikes on Iran.
